Date: 01/18/2006

Final
BILL SUMMARY for HB06-1033

HOUSE COMMITTEE ON FINANCE

Votes: View--> Action Taken:
Refer House Bill 06-1033 to the Committee of the WPASS


01:35 PM -- Opening Comments

Representative Val Vigil, Chairman, welcomed everyone to the first House Finance Committee meeting and discussed committee procedures for the 2006 legislative session.


01:42 PM -- House Bill 06-1033

Representative Coleman, prime sponsor, explained that House Bill 06-1033 would change the timing for the allocation of money above the General Fund Excess Reserve to the Highway Users Tax Fund (HUTF) and the Capital Construction Fund. The committee briefly discussed the SB 97-1 diversion to the HUTF allowed under current law. Staff distributed a copy of the General Fund overview showing the FY 2005-06 reserve amount of $96.9 million (Attachment A). Representative Coleman distributed a fact-sheet on House Bill 06-1033 and reiterated that the bill would modify the dates for which the General Fund Surplus less the 4 percent reserve (Excess Reserve) would be annually transferred to the HUTF and the Capital Construction Fund.

Representative Vigil, Chairman, placed the bill on the table for action.
BILL:HB06-1033
TIME: 01:48:02 PM
MOVED:Judd
MOTION:Refer House Bill 06-1033 to the Committee of the Whole. The motion passed 13-0-0.
SECONDED:Garcia
VOTE
Benefield
Yes
Cloer
Yes
Crane
Yes
Frangas
Yes
Garcia
Yes
Harvey
Yes
Jahn
Yes
Kerr
Yes
Marshall
Yes
Massey
Yes
McCluskey
Yes
Judd
Yes
Vigil
Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS